Sisodia, who also holds the education portfolio, said the move is intended to send out "a clear message that there is zero tolerance for corruption" in the AAP government.
"Have decided to remove principals of five schools from their jobs after finding evidence of financial irregularities in school-welfare fund, scholarship fund, salary and admission," the deputy chief minister tweeted in Hindi.
An official statement said the services of the principal of the Government Boys' Senior Secondary School at Nithari has been terminated over his alleged role in irregularities to the tune of Rs 30 lakh.
The three other cases involve misuse of funds of various government schools in the Tughlakabad Railway Colony, Hirankudna and Jangpura areas.
Sisodia, meanwhile, has decided to recommend to President Pranab Mukherjee that the pension of a former Sub-Divisional Magistrate (SDM) who allegedly extended undue favours to one party in a property dispute case be stopped.